NYU Tandon Launches a New Way to Incubate Early-Stage Entrepreneurs: a No-Cost Program at Data and Digital Future Labs
Catalyst NYC Takes No Equity, Gives Select Startups Access to its Proven Resources
BROOKLYN, New York – NYU Tandon School of Engineering’s Future Labs — a network of startup-company hubs — announced it will launch a new cohort program at the Data and Digital Future Labs. Catalyst NYC is a selective, six-month program that will make the portfolio of benefits currently available only to Future Labs companies accessible to earlier-stage startups.
Equity-free and free of charge to the accepted companies, Catalyst NYC will offer access to University talent, faculty and resources valued at up to $350,000 including pro bono legal support from Orrick, financial planning, prototyping facilities, and free desk space for those companies that choose to relocate. Up to eight companies will be accepted in each cohort, and they will receive focused attention and guidance from the NYU Tandon Future Labs team and its network of mentors.
The services and mentoring are based upon the tools developed over the course of nearly a decade for Future Lab companies, which have achieved remarkable longevity and acquisition rates.
“The Catalyst NYC program will provide any startup company in New York City – even those in other programs, accelerators, or incubators — the opportunity to tap into the resources of the NYU Tandon Future Labs to help their ventures navigate the early-stage process,” said Steven Kuyan, NYU Tandon managing director at the Future Labs. “We’re excited to offer the benefits of our program for more advanced companies to earlier-stage ones, whether or not they physically locate to our space. We hope, too, that Catalyst NYC, along with the other programs across our network, will continue to help lift New York City’s startup ecosystem in the process.”
Catalyst NYC joins other Future Labs programs developed to address the specific needs of entrepreneurs, including Apex, a one-year program recently launched for companies founded by military veterans and spouses, and Next Round, a one- to two-year program for seed-stage startups at the Digital Future Lab in the DUMBO neighborhood of Brooklyn and the Data Future Lab in the SoHo neighborhood of Manhattan. Both programs are still accepting applicants.
The Future Labs have a proven track record working with some of the leading startups in New York City. Earlier this year, they reported an estimated economic impact on New York City’s economy of $4.06 billion since launching in 2009. In addition to the extraordinary monetary impact, the NYU Tandon Future Labs supported 3,201 jobs in New York State, including 2,740 jobs in New York City alone. The Future Labs also count more than 95 companies as graduates, 16 through acquisition, and a graduate portfolio with a net value of over $1 billion. Notable graduates include CB Insights, BounceX, Clarifai, and Honest Buildings.
About the New York University Tandon School of Engineering
The NYU Tandon School of Engineering dates to 1854, the founding date for both the New York University School of Civil Engineering and Architecture and the Brooklyn Collegiate and Polytechnic Institute (widely known as Brooklyn Poly). A January 2014 merger created a comprehensive school of education and research in engineering and applied sciences, rooted in a tradition of invention and entrepreneurship and dedicated to furthering technology in service to society. In addition to its main location in Brooklyn, NYU Tandon collaborates with other schools within NYU, the country’s largest private research university, and is closely connected to engineering programs at NYU Abu Dhabi and NYU Shanghai. It operates Future Labs focused on start-up businesses in downtown Manhattan and Brooklyn and an award-winning online graduate program. For more information, visit engineering.nyu.edu.